Natural Gas Continues to Gain in Popularity
America’s abundant supplies of natural gas are already changing the country’s energy outlook. Auto manufacturers are now producing vehicles that run on natural gas. Utility companies are switching power plants from coal to natural gas. And energy companies are placing big bets on the cleaner burning domestic fuel.
ExxonMobil CEO Rex Tillerson predicts that natural gas will soon displace coal and become the country’s second leading fuel source. Tillerson made the comments while speaking to his company’s shareholders.
The world’s largest publicly traded company has bet big on the future of natural gas, which Tillerson believes will replace coal as the No. 2 fuel behind oil.
The chief executive of the world’s largest energy company has made some big bets on natural gas, including its 2010 acquisition of XTO Energy.
Tillerson said the company’s expectations that world natural gas demand will grow 60 percent by 2040 made its heavy investments, including its XTO purchase, valuable.
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